General Provisions on Advertising and Promotion of Retirement Savings Systems

DOF: 15/12/2017

GENERAL PROVISIONS on advertising and promotion of the Retirement Savings Systems

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Ministry of Finance and Public Credit.- National Commission of the Retirement Savings System.

GENERAL PROVISIONS ON ADVERTISING AND PROMOTION OF THE RETIREMENT SAVINGS SYSTEMS

The President of the National Commission of the Retirement Savings System, with the favorable opinion of the Advisory and Oversight Committee, based on articles 1, 2, 5 fractions I and II, 12, fractions I, VIII and XVI, 16, fraction XIII and 53 of the Law of the Retirement Savings Systems; articles 1, 2, fraction III and 9 of the Internal Regulations of the National Commission of the Retirement Savings System, has deemed it appropriate to issue the following:

GENERAL PROVISIONS ON ADVERTISING AND PROMOTION OF THE RETIREMENT SAVINGS SYSTEMS

INDEX

CHAPTER I
GENERAL PROVISIONS

CHAPTER II
COMPARATIVE ADVERTISING

CHAPTER III
PROMOTION OF PENSION EDUCATION

CHAPTER IV
PROMOTIONS TO ENCOURAGE VOLUNTARY SAVINGS

CHAPTER V
GENERALITIES

CHAPTER I
GENERAL PROVISIONS

Article 1. These general provisions aim to establish the rules regarding Advertising directed at Workers and the general public, to which Administrators and Investment Societies operating must adhere.

Article 2. For the purposes of these general provisions, in addition to the definitions set forth in article 3 of the Law, article 2 of the Regulations, the general provisions on operations of the retirement savings systems, and the general provisions establishing the procedure for constructing the net performance indicators of specialized investment societies for retirement funds, the following shall be understood:

I. Promotional Articles, as objects that contain at least one printed, engraved, or labeled reference to the commercial brand of the Administrators or Investment Societies, and which are distributed among Workers to carry out Advertising and Promotion regarding the Retirement Savings Systems;

II. Pension Education, consists of providing Workers with information that allows them to acquire financial skills and capabilities to foresee, plan, and achieve economic stability during their retirement;

III. Sponsorship, the support or financing of an activity or event, for advertising purposes, carried out by the Administrators or Investment Societies operating, with the aim that the name or logo of the Administrators or Investment Societies is mentioned or presented;

IV. Advertising, the activity carried out by an Administrator or Investment Society operating, through any means of communication, including the space reserved for such effect in the account statement, with the primary purpose of promoting the services it provides and their characteristics, as well as the commercial practices it carries out, consisting of the offer to the Worker or the general public of additional benefits.

The term Advertising does not include information regarding prospectuses, explanatory brochures, and account statements that must be delivered to the Worker, unless these include some advertising reference, and

V. Promotion, a commercial practice aimed at offering the public products, goods, or services, including those of a pension nature, free of charge or by participating in raffles, contests, or similar events, with the aim of encouraging Voluntary Contributions or updating data in their Individual Account so that workers increase their pension resources, provided that registration, transfer, or recertification is not conditioned.

Article 3. The Advertising, Sponsorship, and Promotion carried out by the Administrators and Investment Societies operating must comply with the following principles:

I. Clarity: direct, simple, precise, timely, complete information, easy to understand for the general public and useful for guiding their decisions;

II. Efficiency: to achieve their Advertising and Sponsorship objectives;

III. Purpose: to be directed at disseminating and consolidating the image of the Retirement Savings Systems, as systems that, through the investment of resources from Individual Accounts, exclusively have the objective of promoting the savings of Workers to obtain a pension;

IV. Legality: all their actions in the matter of Advertising and Sponsorship must comply with the regulations and provisions applicable to them;

V. Truthfulness: to be true and not to issue assertions, messages, or images that, directly or indirectly, by omission, ambiguity, excess, imprecision, or any other type of deception, could induce error or incorrect or imprecise interpretations, regarding the products and services they provide, creating false expectations for Workers regarding their savings;

VI. Relevance: to have a direct relationship with the Retirement Savings Systems, as well as with the services provided to Workers;

VII. Verification: to be based on technical elements that can be verified and to be complete and illustrative in itself;

VIII. Loyalty: it must not include phrases that discredit the Retirement Savings Systems, the Participants in the Retirement Savings Systems, or negatively affect their image before the general public;

IX. Identification: to show the name and distinctive signs of the Administrator or Investment Society responsible for its publication, and

X. Independence: it may refer to its shareholders, entities related to them, or persons with whom the Administrator or its shareholders have a Financial Nexus, but they must not induce the public to believe that any of these guarantees in any way the performance of the Administrators and Investment Societies operating.

Administrators and Investment Societies operating may stimulate the savings of Workers through the Advertising they carry out in accordance with the provisions of this article, which must have as its purpose to increase the amount of the pension, improve the quality of life of workers and their families, and encourage the increase of resources destined to the Individual Account, including contributions to the Voluntary Savings subaccounts and, in general, to foster the habit of saving and Pension Education as established in the Law, the Regulations, and these general provisions.

Administrators may send or disseminate information about the Retirement Savings Systems, including products and complementary services, jointly with, or through, their shareholders, the financial groups to which they belong, entities with which they are related, or persons with whom the Administrators or their shareholders have a Financial Nexus, complying with the principles referred to in this article.

Administrators must establish a code of ethics and self-regulatory conduct in the matter of Advertising, Promotion, and Sponsorship that promotes good practices and fair competition in the industry, with the aim of strengthening security, trust, and credibility, as well as bringing Workers closer to their Individual Account and the Retirement Savings System so that Pension Education is promoted at all times.

Article 4. Administrators and Investment Societies operating are prohibited from doing the following in all Advertising, Promotion, and Sponsorship:

I. Include information that could confuse the public or distort the nature of the services they provide. In this sense, Advertising must promote public confidence in the Retirement Savings Systems and the adequate management of their resources, as well as comply with the principles of fair competition with other Administrators and Investment Societies operating;

II. Use phrases, expressions, or slogans that cannot be objectively justified, mainly related to the returns, commissions, and services they provide;

III. Use religious or patriotic symbols that are the object of public devotion or worship;

IV. Give away any type of Promotional Article, goods, prizes, or similar items that have as their purpose to obtain the registration, transfer, or recertification of the Worker's Individual Account;

V. Advertise or promote services different from their object;

VI. Include slogans, logos, or data that do not relate to the performance of the Administrators or Investment Societies operating;

VII. Disseminate the personal data of Workers, except when the registered person manifestly gives their prior written consent;

VIII. Provide Worker data to their shareholders, financial groups to which they belong, entities with which they are related, or persons with whom the Administrators or their shareholders have a Financial Nexus, for any reason, including promoting any product or service.

IX. Furthermore, Administrators and Investment Societies operating must comply with the other provisions established by laws for the protection of the personal data of Workers, and

X. Reproduce formats provided for in the regulations of the Retirement Savings Systems, as well as credit titles, metallic coins, or banknotes, national or foreign, except that in the case of national banknotes or coins, there is express authorization from the Ministry of Finance and Public Credit, in accordance with what is established by article 17 of the Monetary Law of the United Mexican States.

Article 5. Advertising regarding commissions, or containing figures or statistical data, must have as its source the website of the Commission, in order to promote fair competition within a framework of strict adherence to current regulations.

Article 6. Administrators may carry out Advertising on Additional Investment Societies, on Social Pension Funds, as well as on other pension products, provided that such Advertising complies with the principles referred to in article 3 of these general provisions.

CHAPTER II
COMPARATIVE ADVERTISING

Article 7. All comparative Advertising between Administrators or between Investment Societies must have as its source the most recent information at the time of its issuance published on the website of the Commission (https://www.gob.mx/consar) regarding commissions, Net Performance Indicator, and other indicators issued by the Commission.

Administrators or Investment Societies that carry out Advertising based on the Net Performance Indicator referred to in this article must include the following legend:

" Important: To register or transfer from an Administrator, the only indicator you should take into account is the Net Performance Indicator, available at: www.gob.mx/consar "

Article 8. Administrators and Investment Societies operating that carry out Advertising on Net Performance Indicators, commissions, or returns, must use the most recent data published on the website of the Commission, www.gob.mx/consar; likewise, the Investment Society to which the information disseminated corresponds must always be indicated.

Article 9. Administrators and Investment Societies operating that carry out comparative Advertising regarding Voluntary Savings must compare the services they provide with similar services, as well as with similar financial instruments or products that can be considered as investment alternatives, or other aspects or any other element susceptible to comparison.

Administrators must use data and information from official sources, or in their case, from reliable, truthful, and verifiable sources, as well as compare between similar products and with equal periods.

Article 10. Administrators and Investment Societies that carry out Advertising on projected balances must add the legend:

" The information presented is an estimate made by this Administrator, and it may vary in accordance with the movements registered by financial markets, the investment policy, and the Administrator's commission. "

Article 11. Administrators and Investment Societies operating must, within a period not exceeding 30 natural days, withdraw the Advertising they have issued that has become obsolete from the update of commissions or the Net Performance Indicator; likewise, they must not put information in external media that becomes obsolete from the update of commissions, indicators, or the Net Performance Indicator.

CHAPTER III
PROMOTION OF PENSION EDUCATION

Article 12. Administrators and Investment Societies operating, in addition to guiding Workers on information and procedures of the Retirement Savings System, may elaborate informative materials to promote Pension Education and Voluntary Savings.

Article 13. The Commission will annually make known a census with the information and materials that Administrators and Investment Societies offer to Workers in the Retirement Savings System in the matter of Pension Education, through its publication at the following address www.gob.mx/consar.

Article 14. Each Administrator or Investment Society may elaborate contents and materials regarding each of the following topics:

1) Personal administration and finances: Documents, courses (in-person and online), and digital tools to carry out planning of income, current and future expenses, and savings;

2) Pension planning for retirement: Documents, personalized advice, and digital tools that allow making pension estimates based on different savings scenarios;

3) Voluntary Savings: Information that stimulates performing Voluntary Savings as a complement to mandatory contributions;

4) Investment and investment funds: Information on investment dynamics, benefits, and implicit risks (capital gains and losses).

5) Services of Administrators and operational procedures of the Retirement Savings System: Detailed information on the services and procedures of the Retirement Savings System that Administrators offer to Workers and the general public;

6) Operational procedures of the Retirement Savings System in digital media: Information to Workers on the use of digital transactionality through their website and digital tools, as well as contact points such as online chat and social networks, and

7) Pension schemes and modalities: Documents, personalized advice, and digital tools on the existing withdrawal modalities, with the aim of exposing the advantages and disadvantages of each of them.

Article 15. In the event that Administrators and Investment Societies carry out evaluations or measurement on the effectiveness of their Advertising and Promotion programs in the matter of Pension Education, they may share the results with the Commission.

CHAPTER IV
PROMOTIONS TO ENCOURAGE VOLUNTARY SAVINGS

Article 16. Administrators and Investment Societies operating may incentivize and stimulate the Voluntary Savings of the Worker through Promotions that disseminate messages related to increasing the balance of the Individual Account, with the aim of obtaining a better pension.

Article 17. Promotional Articles that Participants in the Retirement Savings Systems distribute among workers to carry out their Advertising and Promotion must contain at least some means of contact such as: phone numbers, or the address of their Internet portal and the nomenclature " AFORE ".

Article 18. Promotions must be intended for Workers who are registered or assigned to an Administrator or for the capture of Independent Workers and minors, so they cannot have as their purpose the transfer of Individual Accounts.

Article 19. Administrators and Investment Societies may jointly carry out Promotions or contests with their Financial Groups to promote Voluntary Savings and data updating.

CHAPTER V
GENERALITIES

Article 20. Advertising carried out by Administrators must promote Voluntary Savings and Solidarity Savings, even through their promoter agents.

Article 21. Administrators and Investment Societies may carry out Sponsorship as long as they are focused on cultural, educational, sports, or social assistance activities, and the transfer, registration, or recertification of Workers regarding their Individual Account is not conditioned.

Article 22. Administrators must not disseminate disaggregated information about the portfolios of the Investment Societies they operate, which could generate distortions in financial markets.

Article 23. Advertising materials must contain or transmit invariable the following phrases:

" The resources in your Individual Account are yours. Inform yourself at www.gob.mx/consar "

In all Advertising carried out, the source of information must be cited. That which is disseminated through the Internet must cite this source in each section where the Advertising appears.

Article 24. If the Administrator does not comply with their promotional offer, the Worker may choose to demand compliance or accept another equivalent service.

Article 25. Administrators and Investment Societies operating must present to the Commission all material related to Advertising, Promotion, Pension Education, or Voluntary Savings on the day of its first emission or the next business day.

The written document by which the aforementioned material is sent must contain as a minimum the following information:

a) Version. Creative execution, graphics, audio-visuals, or digital belonging to the same campaign or communication strategy;

b) Distribution. Quantity of advertising or promotional materials intended to be disseminated in a specific geographic location;

c) Coverage. Territorial extent covered by a service or product;

d) Validity. Refers to the period for the dissemination of an advertising or promotional material of each print run;

e) Print Run. Refers to the set of copies printed or produced with the same base of information;

f) Medium/channel. Is the instrument through which the dissemination of the advertising or promotional message is carried out, and

g) Target population. Refers to the specific set of individuals with psychographic and sociodemographic characteristics to whom the message is directed.

Administrators must have available to the Commission all material they use for Advertising, Promotion, Pension Education, and Voluntary Savings purposes.

In the event that Advertising is carried out in a language other than Spanish, it must be presented with a translation into Spanish.

Article 26. The information that Administrators and Investment Societies are obliged to make public in terms of other general provisions issued by the Commission, such as information prospectuses and explanatory brochures of Investment Societies, will not be considered as Advertising unless these include some advertising reference. Without prejudice to the foregoing, they must be subject to the particular provisions applicable to them.

Likewise, the content of the Advertising carried out by Administrators and Investment Societies must comply with the other legal and administrative provisions applicable to them in terms of other regulations.

Article 27. Advertising that refers to the merger of two or more Administrators must always include the following legend:

" As a result of the merger, Workers registered in the merged AFORE(S) have the right to request the immediate transfer of their Individual Account to another Administrator. "

TRANSITORY PROVISIONS

ARTICLE FIRST. These general provisions will enter into force on the next business day following their publication in the Official Gazette of the Federation.

ARTICLE SECOND. The " General Provisions on advertising of the retirement savings systems " published in the Official Gazette of the Federation on April 5, 2012, are repealed, as well as all general provisions issued by the Commission that are contrary to this regulation.

ARTICLE THIRD. Administrators must withdraw from circulation or emission, as well as update the written and electronic (radio, television) materials they have elaborated that do not comply with these provisions, within a maximum period of thirty natural days, counted from the entry into force of these general provisions.

In the case of Advertising materials in digital media (cinema, internet, and social networks), this must be withdrawn from circulation or emission, within a maximum period of 24 hours counted from the entry into force of these general provisions.

ARTICLE FOURTH. At the date of entry into force of these general provisions, article 484 and paragraph 3 of article 65, both of the General Provisions on operations of the retirement savings systems published in the Official Gazette of the Federation on December 28, 2015, modified on April 21, June 29, August 25, and October 18, 2016, as well as July 4, 2017, are repealed.

Mexico City, December 8, 2017.- The President of the National Commission of the Retirement Savings System, Carlos Ramírez Fuentes .- Rubric.

In the document you are viewing, there may be text, characters, or objects that do not display correctly due to conversion to HTML format, so we recommend always taking the digitized image of the DOF or the PDF file of the edition as a reference. The content, form, and scope of the published documents are the strict responsibility of their issuer.

CONSULT

BY DATE

Do Lu Ma Mi Ju Vi Sá

INDICATORS

Exchange Rate and Rates as of 29/08/2026

UDIS
8.809369

See more

SURVEYS

Did you like the new image of the Official Gazette of the Federation website?

No

Yes

Official Gazette of the Federation

Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our menu of services

Electronic address: dof.gob.mx

113

LEGAL NOTICE | SOME RIGHTS RESERVED © 2026